JIBFI ECO PRODUCTS lelted

Transcription

1 _,.. ClN No.: L01111GJ2011PL JIBFI ECO PRODUCTS lelted Office : Fm. Ruturaj Complex. Opp. A. V. School Ground. Crescent Road, Bhavnagar (Gujarat) INDIA. May 30' 2018 To Bombay Stock Exchange P.]. Towers Dalal Street, Fort, Mumbai Sub: Outcome of Board Meeting Ph.: Web : wwwjlyaecocom Emaii : cfo@jiyaeco.com Dear Sir/Ma'am, With respect to the above subject, we hereby inform that in the board meeting held today i.e. May 30, 2018 at the registered office of the Company, the following items of business were transacted by the board: 1. Approved and took on record the Audited Financial Results (Standalone) as per Indian Accounting Standards (Ind AS) for the Quarter and year ended March 31, Approved and took on record the Audited Financial Results (Consolidated) as per Indian Accounting Standards (Ind AS) for the Quarter and year ended March 31, Constituted Committee on Corporate Social Responsibility (CSR) and approved Policy on Corporate Social Responsibility. S. No. Name Category Designation in Committee 1 Nimish Iani Independent Bhavesh I. Kakadiya Managing Director Chairman Director Member 3 Yogesh C. Patel Managing Director Member 4. Approval of Related Party Transactions with Iiya Eco (Gandhidham) Private Limited, which is wholly owned subsidiary of Iiya Eco Products Limited. 5. Appointment of Independent Director ofliya Eco Products Limited i.e. Mr. Nimish Jani (DIN: ) in Jiya Eco India Limited, in pursuant to provisions of Regulation SEBI (LODR) Regulations, of 6. Allotment of 3,45,679 Equity Shares, pursuant to exercise of convertible Warrants. The board meeting was commenced at AM and concluded atifl 6" PM. We are enclosing herewith the financial results for your information and record. The same will be made available on the website ofthe Company i.e. Thanking You. Yours faithfully, FOR, IIYA ECOPRODUCTS LIMITED Harshil Shah Company Secretary and Compliance Officer Reg. Office : Servey No. 202/2; Navagam (6.), Ta. : Vallabhipur,Dist Bhavnagar.

2 CIN No.: L01111GJ2011PLC \JHF) ECO'PRODUCTS lelted Office : Fm, Ruturaj Compiex, Opp. A. V. School Ground, Crescent Road, Bhavnagar~ (Gujarat) INDIA. Ph.: Web : Emaii : cfo@jiyaeco.com May 30, 2018 To, Bombay Stock Exchange P.I. Towers Dalal Street, Fort, Mumbai Subject: Declaration pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, Declaration I, Bhavesh I. Kakadiya, Managing Director (DIN: ) of the Company, hereby declare that, the Statutory Auditors of the Company have issued an Audit Report with an unmodified opinion on the Annual Financial Results of the Company (Standalone & Consolidated) for the year ended March 31, This Declaration is in compliance to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended by the SEBI (Listing Obligations and Disclosure Requirements) (Amendment) Regulations, 2016 vide notification SEBI/LAD NRO/GN/201617/001 dated May 25,2016 Thanking You. Yours faithfully, FOR, IIYA ECOPRODUCTS LIMITED Bhavesh I. Kakadiya Managing Director DIN: Reg. Office : Servey No. 2021?, Navagam ((3.), Ta. : Vailabhipur, Dist. Bhavnagar,

3 ,470. AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 2018 Particulars (Amount in Lacs) Standalone Consolidated Quarter ended Year Ended Year Ended March December March March March 31, , , , ,2017 March 31,2018 Audited Unaudited Audited Audited Audited Audited 1.(a) Revenue from operations 3, , , , , , (b) Other Income A Total Income From Operations 3, , , , , , Expenses : (a) C 5t 0f Material consumed 2, , , , , (b) Purchase of Stockintrade _ 101,237 (c) Changes in Inventories Finished Goods, Work inprogress and stockin trade (145,413) 5397 (22_413) (123,552) (31,370) (d) Other manufacturing, construction and operating expenses (Includes Excise Duty/GST) (e) Employee Benefits expenses (1 ) Finance Cost (45.083) (9) Depreciation, amortization, impairment and obsolescence (h) Sales, administration and other expenses , , A Total expenses 3, , , , , , Profit /( 055) before exceptional items and tax (1A 2A) , , Exceptional item 5 Profit /(loss) before tax (34) (12.816) 1, , Tax Expense (1.440) (1.440) profit /(loss) for the period (PAT) (56) (11.376) Other Comprehensive income (OCI) Total Comprehensive Income for the period (7+8) (10.706) Paid up equity share capital ( face value of share : Rs 10 each) Earnings per share (EPS) of Rs 10 each ( Not annualised) : (a) Basic EPS (Rs.) (0.10) (b) Diluted EPS (Rs.) (0.10)

4 , 31 STATEMENT OF ASSETS & LIABILITES (STANDALONE) Particulars (Rs. In lacs) A5 at AS at March March 2017 ASSETS NONCURRENT ASSETS (a) Property, plant and equipment 1, , (b) Capital workinprogress (c) Intangible assets (d) Financial assets (e) (i) Investments (ii) Loans (ii) Other noncurrent financial assets Other non current assets Total Non Current Assets 1, , CURRENT ASSETS (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables 4, , (iii) Cash and cash equivalents (iv) Bank balances other than cash and cash equivalents (v) Loans (vi) Other current financial assets (c) Other current assets Total Current Assets 6, , TOTAL ASSETS 7, , EQUITY AND LIABILITIES EQUITY (a) Equity share capital 1, , (b) Other equity 3, , (C). Total Equity 4, , LIABILITIES NONCURRENT LIABILITIES (a) Financial liabilities (i) Borrowings (ii) Other noncurrent financial liabilities (b) Provisions (c) Deferred tax liabilities (net) Total Non Current Liabilities CURRENT LIABILITIES (a) Financialliabilities (i) Borrowings 1, , (ii) Trade payables 1, (iii) Other current financial liabilities (b) Provisions (c) (cl) Other current liabilities Current tax liabilities Total Current Liabilities 3, , TOTAL EQUITY AND LIABILITIES 7, ,

5 _ STATEMENT OF ASSETS 8: LIABILITES (CONSOLIDATED) (Rs. In lacs) AS at 31 March 2018 ASSETS NONCURRENT ASSETS (a) Property, plant and equipment 1, (b) Capital workin progress (c) Intangible assets (d) Financial assets (i) Investments (ii) Loans (ii) Other noncurrent financial assets Total Non Current Assets 1, CURRENT ASSETS (a) Inventories (b) Financial assets (i) Investments (ii) Trade receivables 5,471,271 (iii) Cash and cash equivalents (iv) Bank balances other than cash and cash equivalents (v) Loans (vi) Other current financial assets (c) Other current assets Total Current Assets 6, TOTAL ASSETS 8, EQUITY AND LIABILITIES EQUITY (a) Equity share capital 1, (b) Other equity 3, Total Equity 4, Non Controling Interest LIABILITIES NONCURRENT LIABILITIES (a) Financial liabilities (i) Borrowings (ii) Other noncurrent financial liabilities (b) Provisions (c) Deferred tax liabilities (net) Total Non Current Liabilities CURRENT LIABILITIES (a) Financial liabilities (i) Borrowings 1, (ii) Trade payables 1, (iii) Other current financial liabilities (b) Provisions (c) Other current liabilities (d) Current tax liabilities Total Current Liabilities 3, TOTAL EQUITY AND LIABILITIES 8, V =. 9 " 3

6 m 1 _ I Notes: The above Financial Results have been reviewed and recommended by the Audit Committee and taken on record & approved by the Board of Directors in their respective meetings held on The statement has been prepared in accordance with the Companies (Indian Accounting Standards) Rules,2015 (lnd AS) prescribed under section 133 of the Companies Act,2013 and other recognized accounting practice and policies to the extent applicable. Beginning 15tApriI,2017, the Company has adopted Ind A5 with a transition date lst April, 2016 and accordingly, restated results for the quarter and year ended 315t March,2017. The financial results for the corresponding quarter and year ended on 3lst March,2017 have been presented based on the information compiled by the management after necessary adjustments in accordance with Ind AS and have not been subject to any audit or review. The format for audited quarterly results as prescribed in SEBI's circular CIR/CFD/CMD/15/2015 dated 30th November, 2015 has been modified to comply with requirements of SEBI's circular dated 5th July, 2016 applicable to all companies that are required to comply with lnd AS. Reconciliation of profit after tax for the quarter and year ended 315t March, 2017 between Ind AS compliant result as reported above with result reported in previous year as per Indian GAAP is given below: (Rs. In Lacs) Particulars Quarter ended 31$t March 2017 Year ended 315t March 2017 Profit / (Loss) after tax under Indian GAAP (9.35) Actuarial (Gain)/ Loss on Employee Defined Benefit plan (1.43) (5.70) Depreciation due to restatement of Fixed assets Interest impact of Financial borrowings (0.92) (3.69) Restatement of Inventory to Fixed assets (32_44) Net Profit / (Loss) After Tax under Ind AS (11.38) Actuarial Gain/ (Loss) on Employee Defined Benefit plan Total comprehensive income as per Ind AS (10.71) Reconciliation of Equity as previously reported under Previous GAAP to IndAS is as below: (Rs. In Lacs) Description As on 3lst March,2017 As on 315t March,2016 E 't d V' GAAP m y er pre ' S 2, , Re measurement of Financial liabilities Restatement of retain earning due to impact on statement of profit and loss for the year (37.88) E 't r Ind AS qu' y as pe I 2, , '1 Qv a) I.r. LU BHA. NAuA g A.. l

7 ,, The operations of the company are limited to one segment, namely manufacturing Bio fuel. The figures for the quarter ended 31St March,2018 are the balancing figures between audited figures in respect of the full financial year and the unaudited published year todate figures up to the third quarter ended 3lst December,2017. Total convertible warrants were issued and allotted on February 08, 2018 at Rs. 54 each (including premium of Rs 44 each), aggregating to Rs. 26,86,27, (Rupees Twenty six crore eighty six lakhs twenty seven thousand five hundred and ninety only) of which 25% upfront amount has been received aggregating to Rs. 6,71,57, (Rupees six crore seventy one lakhs fifty seven thousand forty one only) pursuant to allotment of warrants.as on March 31, 2018, total Rs 10,48,16,361 has been received by the Company which includes upfront 25% amount i.e. Rs 6,71,57,041 (Rupees six crore seventy one lakhs fifty seven thousand forty one only) towards allotment of convertible warrant and balance Rs 3,76,59, has been received towards balance 75% amount for proportionate conversion of Convertible Warrants into Equity Shares. The said amount is used for the objects mentioned in the Notice of Shareholders approval for issue of Convertible Warrants i.e. funding current/future expansion plans/activities directly by the Company or through subsidiaries, repayment of unsecured loans of financial institutions (up to an extent), working capital requirement, and general corporate purpose. 10. Board approved allotment of equity shares pursuant to exercise of convertible Warrants on its meeting held on April 19, The Company has acquired 100% equity shares of Jiya Eco India Limited and Jiya Eco (Gandhidham) Private Limited during the quarter ended on March 31, Figures of the previous period have been regrouped /rearranged wherever necessary. For Philip Fernandes & Co. Chartered Accountants For Jiya EcoProducts Limited l 7. WM v.c. em Bhavesh Kakadiya Yogesh Patel P prietor Managing Director Managing Director M.No (DIN: ) (DIN: )

8 ,.No (A PHILIP F RNAND S & CO. Chartered A ccountants _ Independent Auditor's Report For the year ended Statement of Standalone Financial Results of Iiya Eco Products Limited Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, To Board of Directors of Jiya Eco Products Limited We have audited the quarterly and yearly financial results of Jiya Eco Products Limited for the quarter and year ended 31St March,2018 and the year to date results for the period To , attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, These quarterly and yearly financial results as well as the year to date financial results have been prepared on the basis of the interim financial statements, which are the responsibility of the company s management. Our responsibility is to express an opinion on these financial results based on our audit of such interim financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard for Interim Financial Reporting (AS 25/ Ind AS 34),prescribed, under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder; or by the Institute of Chartered Accountants of Indial, as applicable accounting principles generally accepted in India. and other We conducted our audit in accordance with the auditing standards generally accepted in India. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatementls). An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion. In our opinion and to the best of our information and according to the explanations given to us these quarterly and yearly financial results as well as the year to date results: (i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and (ii) give a true and fair view of the net profit/ loss and other financial information for the quarter and year ended as well as the year to date results for the period from to For Philip Fernandes & Co. Chartered Accountants FRN: W QgRNANo & 9 roprietor 7,9 64 s Ah medabad CIRCLE B,A/25,3 rd Floor,Above PakwanII,SG Highway,Bodakdev,Ahmedabad Ph: , Mo.: philipfernandes.3@gmai.com

9 PHILIP F RNAND S & CO._ thecygigelngecdlsggmzeln t 0 ) A I b ngdrqgglggt egf mancial Independent Auditor's Report For Results of Jiya Eco Products Limited Pursuant to Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, To Board of Directors ofjiya Eco Products Limited We have audited the quarterly and yearly consolidated financial results of Jiya Eco Products Limited for the quarter and year ended 3lst March,2018 and the consolidated year to date results for the period to , attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, These consolidated quarterly and yearly financial results as well as the consolidated year to date financial results have been prepared from consolidated interim financial statements, which are the responsibility of the company s management. Our responsibility is to express an opinion on these consolidated financial results based on our audit of such consolidated interim financial statements, which have been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard for Interim Financial Reporting (AS 25/ ind AS 34), mandated under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder or by the Institute of Chartered Accountants ofindia1, as applicable and other accounting principles generally accepted in lndia. We conducted our audit in accordance with the auditing standards generally accepted in lndia. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial results are free of material misstatement(s). An audit includes examining, on a test basis, evidence supporting the amounts disclosed as financial results. An audit also includes assessing the accounting principles used and significant estimates made by management. We believe that our audit provides a reasonable basis for our opinion. We have also audited the financial statements of 2 wholly owned subsidiaries included in the consolidated quarterly and yearly financial results and consolidated year to date results, whose consolidated interim financial statements reflect total assets of Rs lacs as at 31St March,2018 and lacs as at the quarter and year ended 31, March 2018; as well as the total revenue of Rs lacs. in our opinion and to the best of our information and according to the explanations given quarterly financial results as well as the consolidated year to date results: (i) to us these consolidated includes the quarterly and yearly financial results and year to date of the entities namely Jiya Eco India Limited and Jiya Eco Private Limited. (Gandhidham) (ii) (iii) have been presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regard; and give a true and fair view of the consolidated net profit/loss and other financial information for the quarter and year ended 31, March 2018 as well as the consolidated year to date results for the period from to 31St March,2018. For Philip Fernandes & Co. Chartered Accountants Ahmedabad CIRCLE B,A/25,3 rd Floor,Above PakwanII,SG Highway,Bodakdev,Ahmedabad Ph: , Mo.: philipfernandes.3@gmail.com